STW Pipeline, the wholly owned subsidiary of water management and oilfield services company STW Resources Holding Corp. expanded its business in the Permian Basin, the parent company said Aug. 13.
STW Pipeline’s objective for first-half 2015 was to achieve net cash flow and increase the customer base. In March, the company began operating with net cash flow and has continued to do so. Customers including Plains All American Pipeline and Anadarko Petroleum Corp. (APC) were added, and at the end of May, STW Pipeline had 10 operating crews.
For the second half of 2015, there is a growth plan, the company said. An additional eight crews will be added by the end of the third quarter, and each crew will generate about $1.1 million in annual revenues.
STW Pipeline is in the bidding process with several customers for construction of larger pipelines with net margins between 19% and 20%.
Additional environmental services for customers will be provided, the company said.
STW Resources Holding Corp. is based in Midland, Texas.
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